NeelamN

NeelamN Updated 

Hey Folks ! USDINR Correction did a pennant breakout instead of the Breakdown as expected in earlier post... So, we will trade what we see in market instead of what we expect... Now for a longer term the trend has turned bullish with a Resistance Breakout and EMA Positive Cross Over (PCO) If you see in the above chart, we have seen similar pattern previously and...

NeelamN

USDINR has been doing a sideways move for a while... Although now as per Dow theory also, it has given a Bearish Direction with change in Dow theory... Details in the chart above.... Let's take every bounce an opportunity to sell Calls of higher strikes (above current price - OTM) and when it breaks TL, we might also be brave to buy Puts of ATM strike... Achhe...

NeelamN

USDINR moved downwards as expected in previous post... Now, considering a strong 50 EMA support, we have got Bullish Engulf on it. Past behavior of USDINR also gives us a reference that whenever we have a bullish pattern at 50 EMA support, we get an uptrend. ( Right now, trend can be cautious bullish, however, if it crosses All Time High, then we may get a fast...

NeelamN

USDINR As per Dow theory analysis on Different Time Frames, High made today is a Lower High and made that with Divergence on lower Time Frame, which gives a view of a new Low... Safest bet is the view that it cannot breach 80 soon... Hence, Bear Call Spread Sell 80 CE and Buy 79.75 CE...

NeelamN Updated 

USDINR 13 May Expiry view Looking at Price action, it has shown a clear BO of Inverted Head and Shoulder with good volume. Next Target can be next resistance or 77.160 if breaks this too then ATH-all time high level 77.416 (round to 77.5) May Sell 76.5 PE and buy 76.25 PE for hedging ( execute this when you get a dip, view - buy the dips ) Plan Your Trade and...

NeelamN

USDINR multi-timeframe analysis * On Monthly - last month Price tried to show a downtrend but failed to make a new low and ended up printing Inverted Hammer (Bullish Sign) * On Weekly - High of previous week hammer taken out (Bullish Sign) * On Daily - High of neutral candle printed on 13 April 2022 taken out (Bullish Sign) Reversal Chart pattern - Inverted Head...

NeelamN

USDINR has broken down and then took support with bullish divergence it has a good resistance of long term EMAs (200 EMA and 50 EMA) also now Looking at Bollinger bands also it seems they are squeezing... confirming the view of price going sideways range - between 76 and 75 Recommendation : I am going for monthly expiry short iron butterfly. As monthly future is...

NeelamN

DLF Long term inclined TL has Broken and retested, a flag is in the making at the same resistance level if breaks 370, we may see T1: 375 T2: 390 Plan your Trade ! Trade your Plan ! Happy Trading !

NeelamN

USDINR Formed kind of bearish flag pattern if it breaks the inclined TL downwards, then T1 : 75.75 further if it breaks that level too, then 75.54 But if it breaks the high of evening star and inclined TL above, then 76.46 is the level to watch for, if it breaks that then USDINR may get bullish again. Plan your Trade ! Trade your Plan ! Happy Trading !

NeelamN

Indigo showing Inv Head and Shoulder pattern Good Volume Hourly Candle printed on Friday post that the market didn't retrace much and went sideways at the resistance, if breaks out above the range then it may cause an inverted Head and Shoulder pattern breakout and give the targets as per the pattern T1 : 2244 Plan your Trade ! Trade your Plan ! Happy Trading !

NeelamN

Flag Break out of almost a year long consolidation and now today it has retested the breakout... one may go long with StopLoss of today's low Targets : 1st target can be flag length 2nd target can be the length of the pole as shown on chart above. Plan your Trade ! Trade your Plan ! Happy Trading !!!

NeelamN Updated 

Hi Folks ! USDINR is now seen in a crucial level near 76 * It has retraced only 38% from recent dip * Retest done at previous breakdown level which was also a support level earlier * Price also can be seen moving in a downtrend channel and now is at the upper level, having room to move downwards till the lower level * Chart pattern : If we look at this...

NeelamN Updated 

USDINR as expected moving in a neutral to short range as per our expiry view posted previously.... Now that we are watching a Sandwich pattern formed on 4Hourly timeframe, if it breaks down then there is a flag breakdown also with a breakdown of 50 EMA this confluence may trigger an excellent Option buying opportunity. For buying, use next week's option or...

NeelamN

USDINR on Weekly Time frame has reached channel resistance marked in Blue parallel line at this channel resistance, on daily timeframe it has shown us a hanging man (hammer) type candle , the low of this candle is also taken down by the big bearish candle. Now this all has happened at the previous resistance level and this bearish engulf (hammer + big bearish...

NeelamN

USDINR has given a good volume BO candle on Weekly if it sustains above current level, this BO may give good targets as shown by the wave structure shown on chart. Buy intraday Dips... I am holding Bull Call Ratio Spread... Might also do naked Call Buying with limited risk amount. (amount that I am ready to loose)

NeelamN

RBL BANK is one such stock which can give you solid returns when it shows signs of falling. This is one such scenario where it has made a lower high at channel resistance with evening star and also stochastic indicator has given a negative cross over at the same point. To make money on this opportunity, we may SELL 145 CE option easily hedging it with 150 CE...

NeelamN Updated 

Hi Folks! USDINR gave a bearish Momentum lately, now it seems to be stuck in a range. Bollinger bands are also flat with 75.25 and 74.75 as resistance and support. It may make a rangebound flag as per Price action. To make value out of this range, we may consider doing a straddle / strangle Or may go for our usual bear call spread as direction is still...

NeelamN Updated 

USDINR has broken an inclined Trendline, this can be seen as inverted flag pattern breakdown. {considering upside retracement as inverted flag} Since, 75 seems to be a strong resistance (breakdown level), I am considering Bear Call Spread strategy with next week's (11th Feb) options. Plan your Trade ! Trade your Plan ! Happy Trading !!!